Banner 1

The Board of THPA SA approved at 21/09/2017 the Financial Report for the period of 1/1/2017-30/06/2017 from which the following arise:

  • Τhe company's turnover for the first six months of 2017 amounted to 27,955,756€ compared to 21,167,064€ in the corresponding period of 2016, recording an increase of 32.07%. All the operating segments recorded increase and specifically: Container Terminal an increase of 29.33%, (16,737,100€ compared to 12,941,411€ in the same period of 2016), the Conventional Port an increase of 37.98% (10,288,769€ compared to 7,456,468€ in the same period of 2016) the Passenger Port an increase of 0.58% (80,139€ compared to 79,678€ in the same period of 2016) and an increase of 23.24% in the Exploitation of Spaces (849,748€ compared to 689,506€ in the same period of 2016).
  • In the period ending 30.06.2017 container terminal recorded an increase in throughput of 32.70% (188,306 teu’s compared to 141,900 in the corresponding period of 2016), general cargo handling recorded an increase of 33.96% (370,479 tons compared to 276,567 in the corresponding period of 2016) and bulk cargo traffic recorded an increase of 55.98% (1,888,766 tons compared to 1,210,903 in the corresponding period of 2016).
  • Cash holdings and equivalents and other financial items amounted to 89,780,558€ compared to 76,585,315€ in the corresponding period of 2016, recording an increase of 17.23%.
  • Gross profit amounted to 14,587,916€ compared to 9,198,348€ in the corresponding period of 2016, recording an increase of 58.59% and as a percentage of turnover amounting to 52.18%.
  • Operating profit (EBITDA) stood at 15,121,764€ compared to 10,325,503€ in the corresponding period of 2016, recording an increase of 46.69% and as a percentage of turnover amounting to 54.09%.
  • Earnings before taxes amounted to 13,789,247€ compared to 8,961,938€ in the same period of 2016, recording an increase of 53.86% and as a percentage of turnover amounting to 49.33%, while after-tax results amounted to 9,800,945€ compared to 5,540,950€ in the same period of 2016, recording an increase of 76.88% and as a percentage of turnover amounting to 35.06%.

 

DECLARATION BY THE MANAGING DIRECTOR

Commenting on the financial results of the first half, ThPA CEO, Dimitris Makris, stressed: "2017 is evolving to a milestone year for the company, which has achieved a significant increase in freight throughput, and retained its strong position in the port market. These figures, combined with high profitability ratios, zero borrowing and high liquidity, create the conditions for a steady upward trend for ThPA SA. Financial figures and current indicators reinforce the estimates for a significant increase in container traffic, the highest in the last ten years, while for general and bulk cargo an increase of the highest in the last five years is expected.

This year's upward trend in freight traffic is mainly related to the increase in exports and commercial activity in the port’s hinterland, as well as the close cooperation of the company with its customers, the ongoing consultation with the port community, the city and the region. At the same time, the company implements an ambitious investment program to improve services and protect the environment.

The experienced and specialized personnel of ThPA SA constitute the driving force of the company.

ThPA SA faces new challenges following the successful completion of the international tender process by HRADF, and nomination of the consortium comprising of Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd. and Terminal Link SAS as the Preferred investor for acquisition of 67% of the company's shares. The concession agreement requires mandatory investments of € 180 million over the next seven years, as well as minimum freight traffic indicators.

The above developments provide a favorable environment for the upgrading of the Port of Thessaloniki the benefit of the company, the national economy and employment in general".